Another major Asian supplier has chosen Hungary for its European location - VIDEO REPORT

The South Korean manufacturer supplying battery components for the electric cars of the world's largest car manufacturers has chosen Hungary for its European base. By implementing an investment worth EUR 24 million, Shinheung will serve the needs of the dramatically developing European electronic vehicle market from Monor, by considering the advantages of its geographical location and the proximity of Samsung SDI.

Shinheung was founded in 1979, thus it goes back to a tradition of four decades in the design of precision instruments. In response to the market demand, they have started the manufacturing of lithium-ion battery cases and the related security cover lids for electronic vehicles since 2009 on their self-developed production lines in their Korean, Chinese and Malaysian plants.

Given that the European car makers develop their electric cars also with a great zeal, the importance of batteries and their accessories has also been constantly growing. By responding to the needs and demand of the drastically developing European electric vehicle market, Samsung inaugurated its newest battery manufacturing plant in Hungary in 2017 as the third pillar of the global manufacturing structure of Samsung SDI. Since Shinheung has been in strong partnership relation with Samsung for 40 years, it has established its first European (and globally its sixth) plant in Monor, Hungary in the framework of a brownfield investment.

Live operation can soon start after the successful completion of the currently ongoing trial operation. They plan to manufacture 1.8 million products per month in 2018, while by the end of 2019, after the production line has been definitely set up, the expected production is 4.8 million per month. Among their aims is, furthermore, to relocate the production of raw materials and components yet imported from Korea in 80% to the Monor plant and to purchase the raw materials necessary for the production also from Hungary.

The Hungarian subsidiary of Shinheung will supply its products for the Göd battery plant of Samsung SDI. Based on a unique patent, they will manufacture security cover lids for battery cases of electric vehicles by using a highly efficient automated laser welding technology. Upon the boosting of the production, 300 new jobs will be created.